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Cape Breton ranked 7th in list of Canada's top 10 most-desired places to live

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According to research conducted by real estate experts at kelownahomes.ca, Cape Breton is ranked 7th in Canada's top 10 most-desired places to live.

When it comes to the real estate market, the demand to buy is high, while inventory is low.

“People are looking for rural areas and they want to have recreational properties and they want to be close to their work,” said Valarie Sampson, owner of Remax Park Place, in Sydney, N.S.

Sampson says she has a lot of clients from Ontario moving to Cape Breton.

“Homes are still selling quite a bit higher than they are here. In Sydney, our average price here would be around $260,000,” said Sampson.

That's much lower than most Canadian cities, according to the survey.

Jenna Lahey, chief executive officer of the Cape Breton Regional Chamber of Commerce, feels the COVID-19 pandemic is also playing a role, with many people now able to work remotely.

“I think people realized during the pandemic that you can really work from anywhere these days and the quality of life here,” she said.

Lahey says people are not only buying houses, but also starting new businesses.

“We're finding that our business population is increasing as well, they go hand-in-hand, and we're seeing economic development happening,” said Lahey.

Meanwhile, Sampson says you have to act fast if you are planning to buy a home on the island.

“If you list a home between $200,000 to $300,000 you're getting multiple offers, and depending on the neighbourhood you might have as many as five, and that's still happening.”

For more Nova Scotia news visit our dedicated provincial page.

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